2017.03.2122:09:00UTC+00Wall Street Tumbles Amid Concerns on Delay of Trump Policy

U.S. equities dropped, posting their worst day of 2017, as investors remain worried that President Donald Trump has yet to deliver his promised tax reductions which drove the market to record peaks in recent months. Banks were weighed down by falling yields with anxiousness deepening ahead of the health care vote.

The Dow Jones industrial average declined 1.14 percent at 20,668.01, as Caterpillar led losses while Coca Cola was the best performer. The S&P 500 dropped 1.24 percent at 2,334.02, as financials led ten sectors down with utilities being the only gainer. The Nasdaq composite slipped 1.83 percent to finish at 5,832.53.

The S&P financials index shed 2.87 percent, its largest daily decline since June. Shares of Bank of America plunged 5.77 percent, adding the most pressure on the S&P 500, while the 3.72 percent fall in Goldman Sachs pulled the Dow lower. The Nasdaq touched a new all-time peak before paring gains to end 1.8 percent lower. Apple shares notched an all-time peak after the company revealed a new version of the 9.7-inch iPad as well as special editions for the iPhone 7 and iPhone 7 plus.